Report: CompSource Privatization Proposal Remains Under Review

The Oklahoma Insurance Department has not approved a proposal to privatize CompSource Mutual Insurance Co., contrary to assertions made by the chairman of its board of directors. The Oklahoman reports that CompSource on Nov. 4 posted a notice on its website about a proposal its board approved in April to convert from a mutual insurance company into a stock insurance company. The notice highlighted what the company sees as the benefits of the proposal and included a link to a letter by  Randal Allen, chairman of the board, asking policyholders to support the plan. The letter says that th...